The Bank of England has announced new measures aimed at ensuring an “orderly end” to its emergency bond-buying scheme, which it brought in when some pension funds were at risk of collapse.

The Bank says that it will now buy up to £10bn of government bonds on Monday, double the previous limit of £5bn.

So far the Bank has bought only around £5bn bonds under the £65bn programme.

The scheme was introduced after the UK government’s mini-budget sparked turmoil in financial markets.

The Bank reaffirmed that the scheme would finish at the end of this week on 14 October.

With the deadline for the Bank’s emergency bond-buying programme fast approaching, there have been worries that the turmoil that had been seen in financial markets would return once the scheme ends.

The mini-budget – which was announced on 23 September – pledged £45bn of tax cuts as part of a plan to boost economic growth, but the level of government borrowing required shocked investors who questioned the sustainability of the public finances.

In the aftermath of the statement, the pound hit a record low and investors demanded a much higher return for investing in government bonds, causing some to drop sharply in value.

Certain types of funds in the pension industry, which invest in bonds, were forced to start selling, sparking fears of a fresh market downturn.

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